Jim Shannon

Jim Shannon

Democratic Unionist Party — Strangford

Speaking in the House of Commons on 28 January 2025

Debate

Agricultural Property Relief

Contribution

It certainly does. For the Minister, we will lay on the line what we are after. The £1 million threshold is wrong, because it does not adequately reflect the rateable value of a farm. If the threshold was £5 million, that would save the small farms. The hon. Member for Caerfyrddin, who introduced the debate, talked about solutions. I have a solution for the Labour party, and I do not care if the Labour party claims it—that does not matter to me. What matters to me is that the threshold should rise from £1 million to £5 million. If it does, family farms will be saved, and if they are saved, we have a chance of moving forward. I am trying to put that forward to the Minister as a positive solution. With the Ulster Farmers Union representatives William Irvine and Alex Kinnear, I had a meeting with the Minister away back before Christmas. We put that solution to him, and he said that he would take it to the Chancellor, because ultimately it will be her decision. It is a really clear way forward. The hon. Member for Caithness, Sutherland and Easter Ross (Jamie Stone) is right in what he says about Northern Ireland. Land values are more expensive in Northern Ireland than anywhere else, which is why the 70% figure is greater for Northern Ireland than anywhere else. We want to have the same mechanism for everybody across this great United Kingdom of Great Britain and Northern Ireland, but there are other ideas about mechanisms such as extended payment windows or graduated tax liabilities to alleviate the financial strain on small farms. I urge the Minister to provide clarity and reassurance to farmers, who are deeply concerned about the future. Again, I say this to him: if we want to do something positive following this debate—as I think we can and must—the issue of the threshold is the way forward. When people add up the value of the land, the value of the machinery and the value of the stock, they are well over the £1 million threshold, but what if he made the threshold £5 million? I have not grasped that figure out of the air; the Ulster Farmers Union and the National Farmers Union put it forward as a figure that could address the issue. I am not going to put a lot of pressure on the Minister today—well, actually, I am. We are all putting pressure on him, because we see a way forward—genuinely, constructively and positively. I beseech him to take that message from the debate today to increase the threshold and save family farms. This is an issue across Northern Ireland, including in the constituencies that my hon. Friend the Member for Upper Bann (Carla Lockhart) and I represent. All my neighbours are worried sick about what the future holds, as are those tenant farmers in Wales and Scotland—across this great United Kingdom. We need the threshold to be raised. If the Minister does that, we will be on his side.

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